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Mexico Seeks Deeper Revamp of Energy Sector

President Enrique Peña Nieto is negotiating a deeper revamp of the country's nationalistic energy laws than his initial proposal this summer.

By

Juan Montes

Nov. 5, 2013 5:11 p.m. ET

MEXICO CITY—President Enrique Peña Nieto is negotiating a deeper revamp of the country's nationalistic energy laws than his initial proposal this summer, aiming to put Mexico's laws on a par with other top oil producers and to attract greater interest from private oil companies.

Top government officials and their counterparts in the conservative National Action Party, or PAN, are in advanced talks to seal a deal that would give private energy firms a share in oil production and licenses designed to tap shale gas deposits...